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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Jain Irrigation Systems proposes to provide guarantee to subsidiarys Green Bonds issue
Jan 16,2017

Jain Irrigation Systems announced that Jain International Trading B.V (JITBV), the Companys wholly owned direct subsidiary, proposes to issue up to USD 200 million of unsecured senior notes (which will also be certified Green bonds) with a USD 50 million over-allotment option, in relation to which the Company propose to provide a guarantee. The issuance of the Guarantee has been principally approved by the Board of Directors at their meeting held on 14 January 2017. However, the issuance of the Guarantee is subject to the successful issuance of the notes/bonds by JITBV, which will depend on the market conditions prevailing during the launch and agreement on terms between the investors, the Company and JITBV.

The Company estimate that the proceeds from this offering to be used as follows:

1. Approximately USD 200 million, to prepay, repay or refinance existing working capital and term loan facilities of the Company and subsidiaries and issue related / other expenses; and

2. balance proceeds to be used by the Company and subsidiaries for acquisitions, working capital spending, operating expenses, general corporate purpose or otherwise.

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Board of Tanla Solutions to consider Q3 and 9M results
Jan 16,2017

Tanla Solutions announced that a meeting of the Board of Directors of the Company will be held on 27 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Board of Kirloskar Multimedia to consider December quarter results
Jan 16,2017

Kirloskar Multimedia announced that the Board of Directors of the Company will meet on 31 January 2017, inter alia, to consider the un-audited financial results for the quarter ended 31 December 2016.

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Reliance Defence & Engineering announces change in CEO
Jan 16,2017

Reliance Defence & Engineering announced that the Board of Directors of the Company has approved the appointment of Cmde. Kartik Subramaniam (Retd.) as the Chief Executive Officer (CEO) and Key Managerial Personnel (KMP) of the Company with effect from 01 April 2017.

Further, Vice Admiral H.S. Malhi (Retd.), CEO will be superannuating from the services of the Comp

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Hind Rectifiers appoints directors
Jan 16,2017

Hind Rectifiers announced that the Board of Directors have appointed Vandan Shah as an Additional Director (Non-executive) with effect from 15 January 2017 subject to approval of members in general meeting.

Further the Company has informed that, the Board of Directors have appointed Akshada Nevatia as an Additional Director (Executive) with effect from 15 January 2017 subject to approval of members in general meeting.

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Board of Hind Rectifiers approves rights issue up to Rs 12 crore
Jan 16,2017

Hind Rectifiers announced that the Board of Directors of the Company has, at their meeting held on 15 January 2017, has considered and approved raising of funds upto Rs. 12 crore by way of offer and issue of equity shares to the existing shareholders of the Company on a rights basis (Right Issue), at such issue price and right entitlement ratio as may be decide by the Board in consultation with Lead Manager, subject to necessary approvals, confirmation and consents as may be necessary/required for compliance of applicable law including the provisions of the SEBI (ICDR) Regulations, 2009, SEBI (LODR) Regulations, 2015 and the Companies Act, 2013.

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Shares of Marg Techno-Projects get listed
Jan 16,2017

The equity shares of Marg Techno-Projects (Scrip Code: 540254) are listed effective 16 January 2017 and admitted to dealings on the Exchange in the list of XT Group Securities.

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App named SEZ India launched by Commerce Ministry
Jan 16,2017

A Mobile app named n++SEZ Indian++ has been launched by the Commerce Secretary on 06 January 2017. SEZ Division, Department of Commerce under its broader e-Governance initiative i.e. SEZ Online System, has developed mobile app for Special Economic Zones (SEZs). Commerce Secretary launched the app and mentioned that the App would help the SEZ Units and Developers to find information easily and track their transactions on SEZ Online System. Now the SEZ Developers & Units can file all their transactions digitally through SEZ Online system and track the status on the go through the SEZ India mobile app.

The app is available on Android Platform for use by SEZ Developers, Units, officials and others. The app has four sections i.e. SEZ Information, SEZ Online Transaction, Trade Information, and Contact details. Salient Features of the four sections are as under:-

1. SEZ INFORMATION: This is a compendium of the SEZ Act, 2005, SEZ Rules, 2006, MOCI Circulars, details of SEZs and Units etc. It gives up to date comprehensive details on all the above aspects.

2.TRADE INFORMATION: This provision gives access to important information / tools such as Foreign Trade Policy, Hand Book of procedure , Duty Calculator , Customs & Excise Notification and MEIS Rates.

3.CONTACT DETAILS: We see that the contact details of all Development Commissioners Office, DGFT, DG System, DGCI & S and SEZ online.

4. SEZ online Transaction This is a dynamic submenu that tracks the Bill of Entry / Shipping Bill processing status and also does verification. The app also helps the Importers / Exporters to track the status of Bill of Entry / Shipping Billn++ integration and processing in the EDI system of the ICEGATE.

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Shares of Shree Nidhi Trading Company get listed
Jan 16,2017

The equity shares of Shree Nidhi Trading Company (Scrip Code: 540253) are listed effective 16 January 2017 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Coal India in focus after hiking coking coal price
Jan 16,2017

Coal India will be watched. The board of directors of Central Coalfields a subsidiary of Coal India approved revision of coking coal prices 14 January 2017. The increase in price is done by subsuming the washery recovery charge (WRC) which was being charged separately in the case of non-linked washery grade coking coal keeping in view the observation of ADRM. Due to this revision, Coal India (CIL) will earn approximately additional revenue of Rs 89.98 crore for the balance period of financial year 2016-2017, i.e. from 13 January 2017 to 31 March 2017 and additional revenue of Rs 222 crore for financial year 2017-2018 subject to achievement of production and dispatch target norms. The announcement was made on Saturday, 14 January 2017.

Shares of auto and public sector oil marketing companies (PSU OMCs) will be watched. PSU OMCs hiked petrol prices by Rs 0.42 a litre (excluding State levies) on Sunday, 15 January 2017 and diesel rate by Rs 1.03 a litre (excluding State levies).

DCB Banks net profit rose 24.5% to Rs 51.30 crore on 28.8% increase in operating income to Rs 614.31 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 14 January 2017.

NBCC (India) has fixed 21 February 2017 as the record date for 1:2 bonus issue of shares. The announcement was made after trading hours on Friday, 13 January 2017.

Pokarna said that its wholly owned subsidiary, Pokarna Engineered Stone (PESL), plans to expand quartz surfaces production capacity by 130% with investment of Rs 325 crore in a greenfield facility. This investment is expected to be completed by June 2018 and PESL would finance this project through a combination of free cash flow/internal accruals (Rs 75 crores) and loan facilities (Rs 250 crore); PESL is in receipt of financial sanction from its lead banker, for the term loan of Rs 250 crore, for funding the project. Further Pokarnas board has approved extending corporate guarantee for the loan facilities to he extended to PESL. The announcement was made after trading hours on Friday, 13 January 2017.

Hind Rectifiers said that its board approved raising upto Rs 12 crore by issuing equity shares to the existing shareholders of the company on a rights basis. The announcement was made on Sunday, 15 January 2017.

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Board of Linaks Microelectronics to consider December quarter results
Jan 14,2017

Linaks Microelectronics announced that the Board of Directors meeting will be held on 27 January 2017 for considering unaudited financial results for the quarter ended 31 December 2016.

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Board of Inditalia Refcon to discuss revocation of suspension of trading on BSE
Jan 14,2017

Inditalia Refcon announced that the Board Meeting of the Company for discussion of the terms for revocation of suspension of Inditalia Refcon from trading on BSE shall be held on 16 January 2017.

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G G Dandekar Machine Works to announce December quarter results
Jan 14,2017

G G Dandekar Machine Works announced that a meeting of the Board of Directors of the Company will be held on 27 January 2017, inter alia, to consider and take on record, Un-Audited Financial Results for the quarter ended on 31 December 2016.

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Bajaj Finance allots NCDs aggregating Rs 77 crore
Jan 14,2017

Bajaj Finance has allotted 770 secured redeemable non-convertible debentures of Rs 10 lakh each aggregating Rs 77 crore on private placement basis on 13 January 2017.

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Bombay Burmah Trading Corporation announces resignation of director
Jan 14,2017

Bombay Burmah Trading Corporation announced that Dr. Sheela Bhide, Non- Executive Independent Director of the Corporation has, vide her letter dated 31 December 2016, resigned as Director with immediate effect, on account of her other work commitments.

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